Malaysia has secured a long-term commitment from Russia to supply petrol, oil and natural gas, a move that Prime Minister Datuk Seri Anwar Ibrahim says will strengthen the country’s energy security and provide greater certainty for the future.
Speaking at a closing press conference following his two-day working visit to the ASEAN-Russia Commemorative Summit on Thursday, Anwar described the agreement as a significant development for Malaysia’s energy sector.
He said the arrangement would allow Malaysia to plan ahead without relying on short-term supply agreements that require annual or seasonal renewals.
“This means Malaysians will have greater assurance over the country’s energy needs. We will not have to depend on agreements that need to be renewed every year or every season because preparations are being made for a long-term arrangement,” he said.
The Prime Minister, who also serves as Finance Minister, stressed that Russia had not only guaranteed energy supplies to Malaysia but had also agreed in principle to provide them over an extended period.
“This is very good news because Russia has assured us of petrol, oil and gas supplies. More importantly, they have agreed to provide these supplies on a long-term basis,” he added.
According to Anwar, discussions have already reached the principle agreement stage, with both sides now working towards finalising and signing the necessary documents.
He revealed that company representatives have already held discussions and that only the formalisation process remains before the agreement can be implemented.
“The agreement in principle has been given. Representatives from the companies have already met, and now it is a matter of finalising and signing the documents. The draft is already available and the principles have been agreed upon,” he said.
The development comes after Anwar expressed appreciation to Russian President Vladimir Putin for Moscow’s support in strengthening energy cooperation with Malaysia, particularly involving Petroliam Nasional Berhad (Petronas).
Beyond energy cooperation, Anwar noted that bilateral ties between Malaysia and Russia have expanded considerably in recent years, covering areas such as trade, investment, finance and the halal economy.
The Prime Minister also sought to reassure Malaysians that the country currently faces no immediate risk of energy shortages despite ongoing uncertainties in global markets.
He said the government had previously monitored potential disruptions caused by rising prices and international restrictions but was confident that domestic supply levels remained stable.
“From the supply perspective, there is no issue. We had been cautious because we were unsure of the impact from price spikes and restrictions, but over the past one or two months our assessments have shown that supply remains secure,” he said.
While acknowledging that global developments could still affect prices, Anwar stressed that fuel availability in Malaysia remains under control.
He added that concerns surrounding diesel, oil and gas supplies have eased significantly, with some fuel stocks now exceeding domestic requirements.
“Even diesel, which we previously considered challenging from a supply standpoint, is now showing a slight surplus. We are also exploring ways to assist countries that require support, including relatively less-developed nations such as Timor-Leste,” he said.
The announcement is expected to boost confidence in Malaysia’s long-term energy planning as the government seeks to ensure stable supplies while navigating an increasingly uncertain global energy landscape.
